Fair Trading is conducting a full review of the Building and Construction Industry Security of Payment Act 1999.
Security of payment laws are designed to ensure that a person can receive payment under a construction contract for:
In December 2015, Fair Trading released the Discussion Paper: Building and Construction Industry Security of Payment Act 1999 (PDF sixe: 856kb) to guide discussion about whether the current laws are working as they should and outline potential options for improving them. The paper covered topics including:
Fair Trading also ran an online survey based on key questions within the Discussion paper. Submissions and the survey closed on 26 February 2016.
Earlier in 2015, Fair Trading conducted an initial public online survey on a number of aspects of the Act. The survey results are included in the Discussion Paper.
NSW Fair Trading will carefully analyse submissions and feedback received. This will be used to help the NSW Government identify potential changes to the laws.
Please check this web page for updates on the review process or subscribe to our building industry enewsletter Foundations for updates.